New Issue: Credit Suisse prices $3.99 million 7.75% reverse convertibles linked to Priceline

By Toni Weeks

San Luis Obispo, Calif., March 16 – Credit Suisse AG, London Branch priced $3.99 million of 7.75% reverse convertible securities due March 17, 2016 linked to the common stock of Priceline Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

A knock-in event occurs if the closing price of Priceline stock is below its knock-in price – 75% of the initial price – on any day during the life of the notes.

The payout at maturity will be par unless the final share price is less than the initial price and a knock-in event has occurred, in which case investors will receive a number of shares of Priceline stock equal to $1,000 divided by the initial price, with fractional shares paid in cash.

Credit Suisse Securities (USA) LLC is the agent.

Issuer:	Credit Suisse AG, London Branch
Issue:	Reverse convertible notes
Underlying stock:	Priceline Group Inc. (Symbol: PCLN)
Amount:	$3,993,000
Maturity:	March 17, 2016
Coupon:	7.75%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than initial price and a knock-in event has occurred, in which case a number of shares of Priceline stock equal to $1,000 divided by initial price, with fractional shares paid in cash
Knock-in event:	Closing share price is below knock-in price on any day during life of notes
Initial price:	$1,186.60
Knock-in price:	$889.95, 75% of initial price
Pricing date:	March 13
Settlement date:	March 17
Agent:	Credit Suisse Securities (USA) LLC
Fees:	0.1%
Cusip:	22546V7B6

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